NIPPON SHOKUBAI CO., LTD, The Current Fiscal Year Net Income Revised Upward by 10%, Dividend Revised Upward by 38 yen

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Thu Nov 7, 2024 3:00 pm JST Earnings

4114 NIPPON SHOKUBAI CO., LTD 【IFRS】

Earnings Report

NIPPON SHOKUBAI CO., LTD <4114> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 7th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 8.92 billion yen, an increase of 30.1% compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward by 10.0%, from the previous forecast of 15 billion yen to 16.5 billion yen (compared to 11 billion yen in the previous period), increasing the growth rate from 36.3% to 49.9%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand by 82.7% from the same period last year, reaching 7.57 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 70 yen to 108 yen (compared to 180 yen before the 1-to-4 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 87.8% from the same period last year, reaching 4.29 billion yen. The operating profit margin improved from 3.4% in the same period last year to 5.2%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	219,668	17,339	20,232	14,069	88.2	77.3	Nov 7, 2022	IFRS
Apr - Sep, 2023	194,301	10,006	9,785	6,861	43.6	62.2	Nov 7, 2023	IFRS
Apr - Sep, 2024	206,876	10,455	12,428	8,925	58.0	54.0	Nov 7, 2024	IFRS
YoY	+6.5%	+4.5%	+27.0%	+30.1%	+33.0%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	210,000	9,000	11,000	8,000	52.4	35	Aug 7, 2024	IFRS
Apr - Sep, 2024 Results	206,876	10,455	12,428	8,925	58.0	54	Nov 7, 2024	IFRS
Revision Rate	-1.5%	+16.2%	+13.0%	+11.6%	+10.8%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	415,000	18,000	20,500	15,000	99.0	70	Aug 7, 2024	IFRS
Mar, 2025 New	415,000	20,000	23,000	16,500	108.9	108	Nov 7, 2024	IFRS
Revision Rate	0.0%	+11.1%	+12.2%	+10.0%	+10.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	197,708	6,556	5,959	4,147	26.6	22.50	May 13, 2024	IFRS
Oct - Mar, 2024 Guidance	208,124	9,545	10,572	7,575	50.0	54	Nov 7, 2024	IFRS
YoY	+5.3%	+45.6%	+77.4%	+82.7%	+88.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	419,568	23,528	26,175	19,392	122.1	45	May 12, 2023	IFRS
Mar, 2024	392,009	16,562	15,744	11,008	70.5	45	May 13, 2024	IFRS
Mar, 2025 Guidance	415,000	20,000	23,000	16,500	108.9	108	Nov 7, 2024	IFRS
YoY	+5.9%	+20.8%	+46.1%	+49.9%	+54.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	96,939	3,285	2,766	2,286	14.5	3.4	Nov 7, 2023	IFRS
Oct - Dec, 2023	98,061	4,437	4,404	2,945	18.8	4.5	Feb 6, 2024	IFRS
Jan - Mar, 2024	99,647	2,119	1,555	1,202	7.7	2.1	May 13, 2024	IFRS
Apr - Jun, 2024	105,095	5,189	6,421	4,631	30.0	4.9	Aug 7, 2024	IFRS
Jul - Sep, 2024	101,781	5,266	6,007	4,294	27.9	5.2	Nov 7, 2024	IFRS
YoY	+5.0%	+60.3%	+117.2%	+87.8%	+92.0%